CHICAGO — Chicago-based JLL Capital Markets has arranged $463 million in bridge financing for Thompson Thrift’s eight-property multifamily portfolio comprising 2,412 Class A apartment units across Florida, Georgia and Arizona. JLL secured the floating-rate construction take-out loan through Barings.
The portfolio includes:
- Standard441 in Orlando, Fla. (300 units)
- The Quinn in Pensacola, Fla. (324 units)
- The Stadler in Bradenton, Fla. (280 units)
- Verity in Vero Beach, Fla. (276 units)
- The Junction at Rockledge in Rockledge, Fla. (380 units)
- The Hadley in North Port, Fla. (268 units)
- The Pullman in Atlanta (276 units)
- Stella in Phoenix (308 units)
Floor plans average 1,023 square feet. Unit interiors feature gourmet kitchens with stainless steel appliances, quartz or granite countertops, smart home technology, full-size washers and dryers, and private balconies or patios.
Examples of amenities include fitness centers, resort-style pools, resident social hubs with coffee bars, pickleball courts, dog parks with pet spas, business centers and outdoor spaces.
Danny Kaufman, Medina Spiodic, Mark Gibson and Matthew Lawton of JLL arranged the loan on behalf of Thompson Thrift. Daniel Hedgepeth of Barings originated the financing.
With offices in Indianapolis and Terre Haute, Ind., Denver, Houston and Phoenix, Thompson Thrift develops, constructs, leases and manages multifamily communities. The firm has developed more than $7.9 billion in ground-up real estate projects across 25 states.
— Kristin Harlow